Charlie Munger

Two Berkshire Takeaways and Thoughts on Competitive Markets

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On a morning run a few weeks ago, I was listening to a talk by Alice Schroeder, author of the outstanding Buffett biography Snowball. She was discussing some things she learned from Buffett in front of an audience of Microsoft employees. Schroeder is always someone I like listening to. She’s an excellent storyteller, she has a thorough understanding of both business and investing, and she has had more access to Buffett’s files than any other outsider. The combination of these attributes […]

Case Studies

Discussion at Markel

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I sent this to Saber Capital clients last week, and I wanted to post it here on the site as well. Last month, I had the great privilege to visit Markel and speak with Tom Gayner and a few of his colleagues at Markel in Richmond, Virginia. Markel has always been a company that I’ve greatly respected, in large part thanks to the leadership of Tom Gayner, who has done an outstanding job stewarding the culture that the Markel family established […]